Here’s Your Guide to Ensuring Low Interest Mortgage Rates

Getting a mortgage can be both an exciting and a stressful time, but it doesn’t have to be. Follow our guide for tips and tricks to ensure you get the best interest rates for your mortgage.

1. The first thing you’ll want to do to insure you’re getting the best deal on your mortgage, is to speak to a mortgage broker. With Simpler, we offer completely free advice and it all starts with a chat. This can be carried out in person, online, over the phone… whichever you prefer. If you decide to chat with a mortgage broker, they’ll want to get to know you. We send an online application that helps with understanding your objectives and your finances. 
2. Once you’ve spoken with a mortgage broker and they’re aware of where you are in terms of finances and goals, they’ll approach suitable providers and begin to help you explore your options. 
3. Together you can then look through your options and make a decision, using our advice and expertise to ensure you a low interest rate mortgage. We will then implement that decision with your chosen provider.
4. From this point onwards, your mortgage can be managed with us. If there is a better deal for you, we’ll contact you and then work with you to make any other decisions. Well also schedule yearly reviews with you to ensure your needs are still being met. 

If you want to shop around before deciding on anything, here are some of our top tips: 

• Some lenders will charge a fee for taking out a home loan. This is negotiable and we always strive for no loan fees.
• The majority of people choose a 30-year term when they get their mortgage, but that doesn’t mean you have to do the same. Go for the term that gives you a fortnightly or monthly repayment you can actually afford, whether that’s 10 years or 30. 
• Make sure you understand the difference between ‘interest only’ and ‘principal repayment mortgages.’ Interest only mortgages can be good when you need lower repayments but will increase the total interest you’ll pay on the loan over time.

If you want free advice on getting a low interest rate mortgage, reach out today.